Yes they should.

I am not sure if this is referring to the Feds in general or a certain area. However, yes they should be audited. They can easily become corrupt, and probably already are, some type of auditing system by a third party would help ensure they are not corrupt. Most organizations get audited, the Feds should not be an exception.

They need to be transparent

The fed needs to be audited because they need to be transparent to congress. We can't continue with the fed bailing out 3rd world dictators and their friends. Also the congress needs to be closer to the fed to meet the peoples interests and to try to stop inflation. C